Over 40% of Companies Set to Revise Salary Budget as COVID-19 Continues to Ravage Economies ​

Impact of COVID-19 and HR Action Survey

As the number of COVID-19 confirmed cases breaks 5 million, countries around the world are on different levels of lockdown. Many businesses have formulated strategies to navigate their way through this unprecedented crisis. Our survey shows that over 40% of companies revised their salary review budget, with over 60% of senior executives taking a pay cut.Read more

How to Differentiate Pay Amid Coronavirus?In light of a fluctuating global stock market and uncertainties caused by the coronavirus, a tightening budget triggers the need for more vigorous pay differentiation.Read more​

Is Your Voluntary Contribution of MPF Competitive?​Mandatory Provident Fund (MPF) Schemes Authority reported a 64% year-to-date increase of tax deductible voluntary contributions (TVC) accounts in June 2019. More companies are trying to make use of TVC to reinforce staff retention. Join the Pretium Benefits & Employment Conditions Survey to get the latest market practice on MPF and other benefits. >>Read more